Contracts for the sale of land鈥攆ormation, signature and variation


Published by a 亚洲色情网 Property expert
Practice notes

Contracts for the sale of land鈥攆ormation, signature and variation

Published by a 亚洲色情网 Property expert

Practice notes
imgtext

This Practice Note looks at the requirements of the Law of Property (Miscellaneous Provisions) Act 1989 (LP(MP)A 1989) for creating a valid contract for the sale, or other disposition, of an interest in land.

It provides guidance on signing and exchanging contracts for the sale of land, the requirements for varying a property contract and also covers the options to consider when a contract does not meet the statutory requirements for a valid contract.

Introduction

A contract for the sale, or other disposition, of an interest in land is void unless it complies with LP(MP)A 1989, s 2. This provides that it must:

  1. 鈥�

    be in writing

  2. 鈥�

    contain or incorporate all of the terms expressly agreed by the parties in one document or, where contracts are exchanged, in each, and

  3. 鈥�

    be signed by or on behalf of each of the parties to it

The application of LP(MP)A 1989, s 2 is most commonly encountered in the context of:

  1. 鈥�

    contracts for the sale and purchase of land

  2. 鈥�

    agreements for lease (although

Powered by Lexis+庐
Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Contract definition
What does Contract mean?

A contract is a legally binding promise (oral or in writing) by one person to fulfil an obligation to another person in return for consideration. A binding contract comprises four elements: offer, acceptance, consideration and intention to create legal relations.

Read more readmore

Popular documents

Contracts for the sale of land鈥攆ormation, signature and variation

Contracts for the sale of land鈥攆ormation, signature and variationIntroductionA contract for the sale, or other disposition, of an interest in land is void unless it complies with section 2 of the Law of Property (Miscellaneous Provisions) Act 1989 (LP(MP)A 1989). This provides that it must:鈥e in

Establishing a beneficial interest (joint ownership)

Establishing a beneficial interest (joint ownership)Where two or more people together own real property, they hold it under a trust of land. Where property is held on a trust of land, the legal estate and equitable estate are separate. The legal estate must be held by the co-owners as joint tenants.

Death of the seller or buyer between exchange and completion

Death of the seller or buyer between exchange and completionStatus of the contractDuring the process of buying a property, exchange of contracts is when the parties exchange signed contracts, and the buyer pays the deposit. Once this has taken place, the agreement becomes legally binding and major

Sub-sales and assignments

Sub-sales and assignmentsWhat is the difference between a sub-sale and an assignment?Sub-saleA sub-sale arises where A contracts to sell a property to B but, before completing the purchase from A, B then enters into a separate contract with C to sell the property to C. There are, therefore, two sale